Offshore staff
HOUSTON –Enbridge Inc. says it plans to build, own, and operate a crude oil pipeline in the Gulf of Mexico to connect Hess Corp.’s planned Stampede development to an existing third-party pipeline system. The lateral pipeline is expected to cost $130 million and to be operational in 2018.
TheStampede development was previously sanctioned by Hess and its project co-owners in October 2014.
Approximately 16 mi (26 km) long and 18 in. in diameter, the Stampede lateral will originate in Green Canyon block 468, 220 mi (354 km) southwest of New Orleans in 3,500 ft (1,067 m) of water at the planned location.
“The Stampede lateral is consistent with Enbridge’s low risk business model and furthers our objective to capture new deepwater Gulf of Mexico crude oil plays,” said Greg Harper, president, Gas Pipelines & Processing, Enbridge Inc. “This project is an attractive investment opportunity for Enbridge and we are pleased to be working with Hess and the other producers on this development.”
01/13/2015
